Urbanclap Secures $21 Million Funding For Expanding The Company
A step further!
UrbanClap, the home services start-up has gained funding again for its expansion in other cities, investing in technology, and to add up new vendors to it. The Delhi- based startup on Sunday secured $21 million in series C funding round that was led by Internet investment fund Vy Capital. Previous investors such as SAIF partners, Accel Partners and Bessemer Venture partners – series B investor participated in the funding round.
According to reports approximately $1 million was also spent from its existing investors for buying shares that was held by few employees and part of stakes of angel investors Kunal Bahl and Rohit Bansal, Snapdeal founders also participated. The funding round was led by Alexander Tamas, Dubai-based Vy Capital who is key investor in Zomato.
The startup was launched in the year 2014, and it lets users or consumer to book for professional services related to in-house beauty services, house cleaning and repair, yoga and fitness across eight different cities in the country.
With recent funding, the company can now focus and invest on training, building spares and parts, inventory, on-boarding at scale, etc. which would the company to market their leadership position. Earlier this May, the startup secured Rs. 20 crore debt from Trifecta Capital.
It has raised about $60 million capital which includes this recent funding round and is in a prominent place in metro cities when it comes to selling home services. More than 65,000 professionals have been registered on portal and 300,000 bookings are done each month. Mumbai and Bengaluru are its key market area.
The other competitors in this sector are Zimmber which was acquired by Quikr in May, HouseJoy and Timesaverz that are located in Bengaluru and Mumbai.
What do you think about recent home-based services and is it really advantage for this trendy lifestyle? Do share your thoughts in our comment section below.
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